Q1 25 EPS
$3.29
BEAT +1.91%
Est. $3.23
Q1 25 Revenue
$12.00B
BEAT +6.97%
Est. $11.22B
vs S&P Since Q1 25
-21.3%
TRAILING MARKET
CB +13.3% vs S&P +34.6%
Market Reaction
Did CB Beat Earnings? Q1 2025 Results
Chubb navigated a bruising quarter dominated by California wildfire losses to still edge past Wall Street expectations, reporting Q1 2025 EPS of $3.29 against a consensus estimate of $3.23, a 1.91% beat, while revenue of $12.00 billion topped the $11… Read more Chubb navigated a bruising quarter dominated by California wildfire losses to still edge past Wall Street expectations, reporting Q1 2025 EPS of $3.29 against a consensus estimate of $3.23, a 1.91% beat, while revenue of $12.00 billion topped the $11.22 billion estimate by 6.97%, even as total revenue fell 7.0% year-over-year. The headline numbers were shaped almost entirely by $1.47 billion in pre-tax wildfire catastrophe losses, which drove net income down 37.9% to $1.33 billion and pushed the North America Personal P&C combined ratio to a punishing 159.5%. Beneath the catastrophe noise, the underlying business held firm, with the current accident year P&C combined ratio improving nearly 1.5 points to 82.3% and adjusted net investment income climbing 12.7% to $1.67 billion. CEO Evan Greenberg acknowledged rising recession risks and near-certain inflation pressure from U.S. Trade policy, a concern echoing across the broader insurance industry, but expressed confidence that Chubb can sustain double-digit operating income and EPS growth excluding catastrophe losses and foreign exchange impacts.
Key Takeaways
- • California wildfire catastrophe losses of $1.47 billion pre-tax driving 15.9 percentage points on combined ratio
- • Double-digit growth in adjusted net investment income up 12.7% to $1.67 billion
- • P&C current accident year underwriting income excluding catastrophe losses up 12.2%
- • Life Insurance segment income up 8.6%, or 15.7% in constant dollars
- • Favorable prior period development of $255 million pre-tax
- • North America personal insurance growth of 10.1% excluding reinstatement premiums
- • Overseas General constant dollar premium growth of 6.5%
CB YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
CB Revenue by Segment
With YoY comparisons, source: SEC Filings
CB Revenue by Geography
With YoY comparisons, source: SEC Filings
“We had a good first quarter that was overshadowed by the significant catastrophe losses we incurred from the California wildfires. We produced $1.5 billion in core operating income, supported principally by excellent underlying underwriting results, double-digit growth in investment income and growing life insurance income. Total company premiums grew 5.7% in constant dollars.”
— Evan G. Greenberg, Q1 2025 Earnings Press Release
CB Earnings Trends
CB vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CB EPS Trend
Earnings per share: estimate vs actual
CB Revenue Trend
Quarterly revenue: estimate vs actual
CB Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $6.82 | — | $13.46B | +16.43% |
| Q4 25 BEAT FY | $6.78 | $7.52 | +10.91% | $13.53B | +373.44% |
| FY Full Year | $24.04 | $24.79 | +3.12% | $53.01B | +11.90% |
| Q3 25 BEAT | $6.15 | $7.49 | +21.78% | $14.36B | +10.93% |
| Q2 25 BEAT | $5.97 | $6.14 | +2.91% | $13.13B | +4.73% |
| Q1 25 BEAT | $3.23 | $3.29 | +1.91% | $12.00B | +6.97% |